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Subsequent Events | 12 Months Ended
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Jun. 30, 2017
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Cobalt Acquisition On July 6, 2017, the Company completed its acquisition of Cobalt Boats, LLC. The aggregate purchase price for the transaction was $130,000, consisting of $129,000 funded with cash and borrowings under the Company's New Credit Agreement and $1,000 in equity equal to 39,262 shares of the Company's Class A Common Stock based on a closing stock price of $25.47 per share on June 27, 2017. The aggregate purchase price was subject to certain adjustments, including customary adjustments for the amount of working capital in the business at the closing date and subject to adjustment for any judgment or settlement in connection with a pending litigation matter between Cobalt and Sea Ray Boats, Inc. and Brunswick Corporation. Concurrent with the closing of the Acquisition, William Paxson St. Clair, Jr., a former owner of Cobalt, was appointed as a director to the Company's Board of Directors and as President of Cobalt Boats, LLC. Delayed Draw Term Loan On July 6, 2017, the Company borrowed $105,000 under a delayed draw term loan under the New Credit Agreement to fund the payment of the purchase price for the acquisition of Cobalt on the same date. In connection with the delayed draw term loan, the Company incurred and capitalized $1,148 of deferred financing costs. Offering and Prepayment of Term Loans On August 14, 2017, the Company completed an offering of 2,300,000 shares of Class A Common Stock that were issued and sold by the Company at a price to the public of $24.05 per share (the "Offering"). This included 300,000 shares issued and sold by the Company pursuant to the option granted to the underwriters, which was exercised concurrently with the closing of the Offering. The aggregate gross proceeds from the Offering was $58,075. Of these proceeds, the Company received $55,317 after deducting $2,758 in underwriting discounts and commissions. Of the net proceeds received from the Offering, $50,000 was used to repay amounts outstanding on its loans under the New Credit Agreement. The remaining net proceeds were used for general working capital purposes. The Company exercised its option to apply the prepayment to principal installments through December 31, 2021 and a portion of principal installments due on March 31, 2022. Accordingly, no principal payments are required under the New Credit Agreement until March 31, 2022, and as such, all borrowings as of June 30, 2017 are reflected as noncurrent.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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